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Daily Record
a day ago
- Business
- Daily Record
The 10 high street stores Brits want to return most with one clear favourite
High streets across the UK are struggling thanks to the rise in online shopping - but there are some brands we want to see make a comeback. With the rise in online shopping over the last couple of decades, there was always going to be a consequence. And as we see store after store closing on high streets across the country, it's not hard to see who has been hit the worst. Online shopping is quick and easy, and it means you can pick out a whole host of different items from a variety of different brands without even having to leave your couch. But as more and more of us buy clothes, gadgets, decorations, books, and more with just a few clicks, it is taking its toll on in-person stores. This month, a huge number of major retailers are shutting shops across the UK. And there are some big names that have left the high street for good in recent years. Some still have an online presence but others are only alive in our memories. As with anything that we once enjoyed but no longer have access to, people long for their return - and shops are no different. The experts at Liquidation Centre analysed search data to reveal which former brands shoppers most want to see make a comeback. And one major retailer was the clear favourite among UK consumers. Debenhams had an average monthly search volume of 499,000 in the UK - more than 7.5 times that of its nearest rival. This may be in part down to the fact that the department store still has a big online sales presence, but it is an indicator of how prominent Debenhams has been in the lives of Brits. Boohoo bought the brand and its website in 2021, ensuring that Debenhams' near 250-year-old history survived, but didn't pick up the high street stores, which eventually closed down. While many Brits long for its return to the high street, it seems unlikely as the chief executive said that it will be "Britain's online department store". Liquidation Centre director Richard Hunt said: 'The combination of failing to adapt to shifting consumer habits towards online shopping alongside the financial impact of Brexit and the pandemic contributed towards Debenhams financial strain. "However, their issues began years prior to these events, with the company carrying unsustainable debts due to poor financial decisions. Their online-only comeback will be exciting for many fans, but it also serves as a stark reminder of their failure to compete effectively on the high street amid a changing market.' In second spot, though some way behind, was Dorothy Perkins with 65,000 average monthly searches. The fashion firm's former owner, Arcadia Group, fell into administration in 2020, with all their brands sold off the following year. Hunt said: 'Dorothy Perkins, part of Arcadia Group, is another example of a traditional retailer acquired by online giants like Boohoo. "Despite undergoing a CVA (Company Voluntary Agreement) to repay debts and avoid liquidation, the company's failure to compete with fast-growing online retailers, combined with a changing market landscape and high overheads, led to crippling financial issues, which ultimately led to the downfall of the business. Rounding out the top three, just behind Dorothy Perkins, was Toys R Us. The much-loved kids' store was a huge feature of the childhoods of Millennials and Gen Xers, and it still amasses 61,000 monthly searches. The toymakers went into administration in 2018, with all its stores closing as a result. The firm had been facing a £15million tax bill and, due to falling sales, they were unable to make the payment. Toys R Us also struggled to keep up with the growth and popularity of technology among children's toys, compared to their more traditional products. Hunt said: "Toys R Us seemed to fail to move with the times. As children's interests began to shift towards more tech-related items, the stores failed to adapt and capitalise on this trend. "They were also priced out of a very competitive market, with other brands offering the same quality branded toys at a lower price. Additionally, reports pointed to dull, outdated store interiors that lacked the excitement and appeal once central to the Toys R Us experience. More enticing and exciting options become available, leaving the brand behind." Some other huge brands were also in the top 10 list, including Mothercare, BHS, Woolworths, and Blockbuster. With many of these brands, they were unable to stay relevant and evolve with the times in a competitive market. Offering his expert insights, Richard Hunt said: "The current economic climate poses increasing risks to businesses, especially those in the retail sector. It is much easier to lose consumers than to retain them, which is why regular market research and competitor analysis are so essential. Staying ahead of the curve as conditions evolve is critical to long-term survival. "As we've seen, poor financial management and decisions have contributed to the downfall of several once-iconic household brands, proving how crucial it is to have effective financial strategies and management in place." Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'. The 10 high street brands Brits most want to see make a return Debenhams, 499,000 average monthly searches Dorothy Perkins, 65,000 Toys R Us, 61,000 Cath Kidston, 35,000 Thorntons, 32,000 Mothercare, 28,000 BHS, 22,000 Woolworths, 19,000 Miss Selfridge, 9,500 Blockbuster, 8,330
Scottish Sun
06-08-2025
- Business
- Scottish Sun
Popular cocktail chain collapses into administration after announcing four site closures
A COCKTAIL chain has fallen into administration, with four sites shutting their doors for good. Simmons has appointed advisory firm Kroll to oversee the administration, company filings show. 1 Simmons Bars has fallen into administration and will close four sites for good Credit: Alamy In its most recent audited accounts, the company posted a loss of £749,000 for the year to the end of March 2024, reversing a profit of just under £2 million the previous year. Last week Simmons revealed plans to close at least four sites to focus on its best performing venues. It is not yet clear which locations are at risk. The chain has venues across London and one in Manchester and offers cocktails, brunches and karaoke at its 21 locations. Read more on hospitality HOT WATER Another blow for Wagamama's founder as celeb-loved restaurant on edge of COLLAPSE Last week Nick Campbell, who founded the company in 2021, said the move would "streamline its portfolio and strengthen its financial position". He said: "As part of the process, we've taken the tough decision to exit four leases, allowing management to focus resources on our strongest performing venues. "Alongside this, we've secured additional investment to support future expansion and operational improvements across the estate." Tough times for UK pubs Many of Britain's pub and bar chains are feeling the impact of the pandemic and cost of living crisis. The hike in costs of every day goods has meant that punters have less money to part with at the till. Meanwhile, hikes to employers' National Insurance Contributions that were introduced in April have piled further pressure onto businesses that are already struggling. Last month The Coconut Tree announced that it would be wound down after defaulting on its Company Voluntary Agreement (CVA). The Sri Lankan restaurant group entered into the agreement last July, according to a report in Restaurant Online. As a result, the group was required to initially repay £27,000 a month for the first three months. Meanwhile, Oakman Inns & Restaurants fell into administration, with six sites shutting their doors for good. What is happening to the hospitality industry? By Laura McGuire FIVE years on from the pandemic and UK hospitality groups are still picking up the pieces. While restrictions and social distancing are well in the past, businesses are now dealing with a plethora of other issues such as hikes to National Insurance and customers having little money to part with at the till. Brewdog will close 10 pubs this weekend, including its flagship site in Aberdeen and a branch. Elsewhere, French-inspired brasserie Côte is being auctioned off by private equity firm Partners Group. The company is working together with Interpath Advisory to seek out fresh investors for the embattled restaurant chain, Sky News first reported. The chain has more than 70 sites across the UK, down from close to 100 shortly before it collapsed into insolvency five years 60 of its remaining sites are thought to be profitable - meaning there is a risk of more closures. It will see a total of 19 sites either sold or closed forever. The group blamed the hangover from the pandemic and elevated interest rates and costs for its financial struggles. The Cosy Club at Ipswich's Buttermarket Shopping Centre also announced it had made the "very difficult decision" to close its doors on May 31. Meanwhile, the chief executive of Fuller's said the group had hiked the price of a pint of beer after being hit with £8million in extra costs as a result of the hike to National Insurance. Simon Emeny, exclusively told The Sun prices would likely rise by 10p to offset its added costs. The British Beer and Pub Association has warned that rising costs mean that one UK pub a day could close and 5,600 jobs are at risk. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@ Plus, you can join our Sun Money Chats and Tips Facebook group to share your tips and stories
Scottish Sun
08-07-2025
- Business
- Scottish Sun
Award-winning restaurant chain that serves ‘the best' bottomless brunch on brink of collapse with several sites at risk
Plus, we reveal why high street chains are struggling CLOSING TIME Award-winning restaurant chain that serves 'the best' bottomless brunch on brink of collapse with several sites at risk Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) AN award-winning restaurant chain is on the brink of collapse with several sites at risk of closure. The Coconut Tree is set to be wound up after defaulting on its Company Voluntary Agreement (CVA), a way of restructuring that means a business can continue trading by negotiating its debts. Sign up for Scottish Sun newsletter Sign up 1 The coconut nut tree is on the brink of collapse Credit: The coconut tree Records on Companies House show the firm owes HMRC £1.6million, which includes VAT, PAYE and National Insurance Contributions. The Sri Lankan restaurant group entered into the agreement last July, according to a report in Restaurant Online, with the group required to initially repay £27,000 a month for the first three months. This would then increase to £45,000 per month for 12 months, and then £50,000 for 10 months. The figure would then rise to £55,000 until April 2028. Over the course of the CVA the group paid back a total of £376,000. The beloved group made a number of attempts to keep the business afloat including a payment holiday which was granted in March. One of its branches in Cheltenham was reportedly put up for sale with the intention of it being leased back to business to release equity, but a buyer was never found. Filings on Companies House show a winding up agreement is scheduled for July 16. This is a court proceeding where a creditor petitions the court to liquidate a company that is unable to pay its debts. It means a company can be forced into compulsory liquidation. Beloved steakhouse chain to shut ALL its restaurants after collapsing into administration with no explanation The Sun has contacted The Coconut Tree for comment. The news puts question marks over the future of the chain's seven sites across the UK. That includes sites in Bristol, Reading and Oxford. Reports of its struggles will come as a blow to locals who have praised the chains bottomless brunch offering. Some happy customers have claimed it is "the best" on the market. While another punter said: "Outstanding bottomless brunch. FULL LIST OF THE COCONUT TREE LOCATIONS Reading Oxford Cheltenham Bristol, Clifton Triangle Bristol, Glos Road Bournemouth Bath "Unbelievably delicious food and the cocktails were so lovely. Highlights include goat curry, fish curry, chickpeas and prawns." A third happy customer said it was a "life changing experience". TROUBLE IN THE RESTAURANT INDUSTRY Chains have been struggling recently as the cost of living has led to fewer people spending on eating out. Businesses have also been struggling to bounce back after the pandemic. As a result, a number of chains have been forced to close down or reduce their estate. Officina 00, a popular pasta join, closed three locations across Covent Garden, Fitzrovia and Old Street. The Cosy Club at Ipswich's Buttermarket Shopping Centre has announced it made the "very difficult decision" to close doors on May 31. The Browns Bar and Brasserie on Duke Street also closed its Brighton branch in May due to an issue with the venues lease expiring which could not be resolved. Turtle Bay also shut its Blackburn site, which first opened in 2017.
The Sun
08-07-2025
- Business
- The Sun
Award-winning restaurant chain that serves ‘the best' bottomless brunch on brink of collapse with several sites at risk
AN award-winning restaurant chain is on the brink of collapse with several sites at risk of closure. The Coconut Tree is set to be wound up after defaulting on its Company Voluntary Agreement (CVA), a way of restructuring that means a business can continue trading by negotiating its debts. 1 Records on Companies House show the firm owes HMRC £1.6million, which includes VAT, PAYE and National Insurance Contributions. The Sri Lankan restaurant group entered into the agreement last July, according to a report in Restaurant Online, with the group required to initially repay £27,000 a month for the first three months. This would then increase to £45,000 per month for 12 months, and then £50,000 for 10 months. The figure would then rise to £55,000 until April 2028. Over the course of the CVA the group paid back a total of £376,000. The beloved group made a number of attempts to keep the business afloat including a payment holiday which was granted in March. One of its branches in Cheltenham was reportedly put up for sale with the intention of it being leased back to business to release equity, but a buyer was never found. Filings on Companies House show a winding up agreement is scheduled for July 16. This is a court proceeding where a creditor petitions the court to liquidate a company that is unable to pay its debts. It means a company can be forced into compulsory liquidation. Beloved steakhouse chain to shut ALL its restaurants after collapsing into administration with no explanation The Sun has contacted The Coconut Tree for comment. The news puts question marks over the future of the chain's seven sites across the UK. That includes sites in Bristol, Reading and Oxford. Reports of its struggles will come as a blow to locals who have praised the chains bottomless brunch offering. Some happy customers have claimed it is "the best" on the market. While another punter said: "Outstanding bottomless brunch. "Unbelievably delicious food and the cocktails were so lovely. Highlights include goat curry, fish curry, chickpeas and prawns." A third happy customer said it was a "life changing experience". TROUBLE IN THE RESTAURANT INDUSTRY Chains have been struggling recently as the cost of living has led to fewer people spending on eating out. Businesses have also been struggling to bounce back after the pandemic. As a result, a number of chains have been forced to close down or reduce their estate. Officina 00, a popular pasta join, closed three locations across Covent Garden, Fitzrovia and Old Street. The Cosy Club at Ipswich's Buttermarket Shopping Centre has announced it made the "very difficult decision" to close doors on May 31. The Browns Bar and Brasserie on Duke Street also closed its Brighton branch in May due to an issue with the .
The Herald Scotland
27-06-2025
- Business
- The Herald Scotland
Ex-Rangers chief Craig Whyte's floundering YouTube channel
Mr Whyte borrowed £26.7m against future season ticket sales in order to acquire the club. Read More: Soon after the takeover Rangers stopped paying PAYE and VAT, leading to a £9m tax bill from HMRC which put the company into administration. Liquidators were appointed after the revenue rejected a proposed Company Voluntary Agreement (CVA) and Rangers were admitted to the fourth division of Scottish football. Whyte was declared bankrupt in 2015. Mr Whyte has since released a book, Into the Bear Pit, about his ownership and begun hosting an investment channel on YouTube. However, all may not be what it seems. On social media the former Rangers owner boasts of having "50k+ subs YouTube". Acequisition, the channel in question, does indeed have 51.4k subscribers. However, Mr Whyte's channel isn't doing too well in the viewership stakes. The most recent video, posted 11 days ago, has just 41 views, while one posted two months entitled 'how to legally pay zero tax' has amassed just 193 in that time. Craig Whyte's YouTube channel (Image: YouTube) The channel was not founded by Mr Whyte and Hector Earley, the other 'creator' listed on the channel but by James Domenic Floreani AKA Jayconomics. In July last year Jay announced that he was leaving YouTube, with 'new creators' taking over the channel. He said: "I will be handing over the channel to people who I think will bring you interesting finance and business content - you'll get to meet them in just a second. For anyone who is wondering, one thing no one can say is that I didn't put my money where my mouth was. I lost hundreds of thousands of dollars investing in companies and the people running them. It has also taught me just how brutal and humbling the small cap market can be - one minute you are on top of the world, the next you've lost it all. "These expensive lessons I've learned throughout these last four years have made me stronger, more focused, a heck of a lot smarter, and given me a much better perspective on how things work. It's been a time of healing, personal growth, tough questions, and rough lessons learned. "Over the past year I've been focused on God, family, healing from within using circadian biology principles, and living in alignment with my purpose. Though I will have to rebuild financially, I am in a much better place mentally, spiritually and physically than I was during my time on YouTube. "All that said, I'd like to thank each and every viewer, supporter and critic of Jayconomics throughout the last four years. I truly wish each and every one of you the best." In April of this year Mr Floreani was found to have breached securities laws in Alberta, Canada between November 2020 and March 2022 by posting recommendations for stocks on social media including YouTube, X (formerly Twitter), Patreon, Instagram, Discord, and Facebook without disclosing he and his company Jayconomics Inc had been paid to do so. The court found he was paid $787.50 for a video about a tech firm called Tenet, as well as 20,000 restricted shares in the company Gold Mountain, $84,000 from Levitee Labs, and $6,300 from Sekur. Penalties are yet to be handed down. Mr Whyte was banned from being a company director for 15 years for his part in the collapse of Rangers. In 2017 the former owner was cleared of fraudulently taking over the club. He dropped a case of malicious prosecution against the Lord Advocate in 2023.
